LONDON--(BUSINESS WIRE)--The new high-pressure processing (HPP) equipment market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the growing need to reduce food contamination”, says a senior analyst for Industrials at Technavio.
The growing focus on reducing food contamination has compelled players in the F&B industry to adopt advanced technologies to ensure optimum food safety. HPP equipment protects food products from bacteria by subjecting them to high pressure. Also, HPP is a natural process that uses purified cold water to neutralize foodborne pathogens without preservatives and chemicals. Such benefits have increased the adoption of HPP equipment in the food processing industry, which is driving market growth. As the markets recover Technavio expects the high-pressure processing (HPP) equipment market size to grow by USD 209.45 million during the period 2020-2024".
High-pressure Processing (HPP) Equipment Market Segment Highlights for 2020
- The high-pressure processing (HPP) equipment market is expected to post a year-over-year growth rate of 7.96%.
- Based on type, the horizontal HPP equipment segment led the global high-pressure processing (HPP) equipment market in 2019.
- This is due to the advantages of horizontal HPP equipment such as easy reassembling and installation and more throughput capacity compared with the vertical HPP equipment.
- 47% of the growth will originate from the North America region.
- The market growth in North America is driven by factors such as the increasing preference for HPP food and beverage products, growing inclination for clean label products among consumers, and increasing end-user demand for advanced HPP equipment.
- The US and Canada are the key markets for high-pressure processing equipment in North America.
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- The high-pressure processing (HPP) equipment market size is expected to accelerate at a CAGR of over 12% during the forecast period.
- The high-pressure processing (HPP) equipment market is segmented Type (Horizontal HPP equipment and Vertical HPP equipment).
- The market is concentrated due to the presence of many/few established vendors holding significant market share.
- The research report offers information on several market vendors, including APAPROCESSING BZ SL, Bao Tou KeFa High Pressure Technology Co. Ltd., Hiperbaric S.A., Hormel Foods Corp., Hydrolock, John Bean Technologies Corp., Kobe Steel Ltd., MULTIVAC Sepp Haggenmuller SE & Co. KG, Stansted Fluid Power (Products) Ltd., and thyssenkrupp AG.
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